What are the opportunities for web3.0?

Every aboriginal in the encrypted world should be familiar with the concept of Web3.0.

What are the opportunities for web3.0?

The concept of Web 3.0 generally refers to the next generation of the Internet where all data and content are kept on-chain and owned by users. Proponents believe that this will help us build a more decentralized and user-friendly environment, and It can effectively fight back against centralized Internet monopoly giants.

It can be said that the core appeal of Web 3.0 is to create the next-generation Internet. However, in addition to the concept of centralization and decentralization, the battle between it and the traditional Internet is also the dominance of “value and traffic”.

The centralized Internet brings the monopoly of the giants on the traffic. According to a report released by QuestMobile data, in the first quarter of 2020, Tencent, Alibaba and Baidu ranked the top three in terms of mobile Internet user coverage in China, accounting for more than 80% of the entire Internet traffic.

The core of the decentralization advocated by Web3.0 is to empower every individual and small institution that can generate transaction value, and use “value” to subvert the dominance of “traffic”. Therefore, we can see that both Bitcoin and NFT have obvious investment properties.

In other words, the real world represented by the Internet has already been divided by giants and capital with traffic, while the virtual world represented by Web 3.0 hopes to create value with rising prices and hype. Space attracts citizens of the world. 

Although Web3.0 contains richer semantics, from an industry perspective, Web3.0 refers to:

  • Network operation and maintenance will be carried out in a more decentralized manner.
  • User digital identities, assets and data are owned by individuals.
  • Deconstruction and reconstruction of centralized organizational structure.

Web3.0 workers can get rid of geographical barriers and seek more diversified development. Those who can work more, earn more for more work, and have flexible employment. So, based on these characteristics of Web3.0, what opportunities will it bring in the future?

Investment Opportunities for Web3.0

The infrastructure that participates in Web 3.0 is the most intuitive investment opportunity. No matter which Web 3.0 projects stand out, they all need the support of infrastructure. There is room for further improvement in the fields of public chain, cross-chain, identity system, distributed storage and private computing.

For example, the blockchain hosting the Web3.0 project must have higher performance and scalability, and the use cost of the distributed storage project should be low enough and the user experience of the centralized cloud storage should be little different.

In addition to infrastructure, the following areas are also the development direction and investment opportunities of Web3.0.

a) On-chain data analysis

Accurate data analysis can reconstruct the business model of blockchain projects. In this process, technologies such as DID and privacy computing will play an important role in privacy protection.

With the increase of blockchain users, the volume of data on the chain grows exponentially. These data play an important role in analyzing user portraits. Accurate data can provide reliable data input for other projects, and then complete the industrial restructuring and upgrading of other projects.

Through accurate data analysis, effective data such as on-chain credit can be obtained, and different application scenarios can be expanded. Take DeFi projects as an example. At present, many DeFi projects use mortgage lending instead of credit lending. Low capital utilization has always been a problem that plagues many DeFi projects.

If you have accurate on-chain data as input, introduce credit into the chain based on past data, provide indexing and aggregation of user-related data such as identity, credit, and user portraits in the Web3.0 system, and accurately filter users, then you can Implement credit lending or unsecured lending for users with high credit, which greatly improves the utilization rate of user funds.

b) Identity data service provider

In theory, there is no need for multiple coexisting DID systems in Web3.0. However, for various reasons, different blockchain ecosystems have different DID systems, and a unified DID system will not appear in the short term.

In this case, an identity aggregation project that can be compatible and integrated with most DID standards will bring great convenience to users. The identity aggregation project supports connecting user DID identity information across multiple ecosystems, helping users view, manage and aggregate identity information on different blockchain networks. At the same time, the identity aggregation project can also be combined with data indexing projects, application projects, etc., to further play a role.

c) Privacy-enhancing technologies

Currently, users do not pay enough attention to information such as identities and accounts on the blockchain. They leave more and more public information on the chain, and everyone can view it without permission, which is a security risk.

In Web 3.0, people’s awareness of data and privacy protection will be stronger, and users no longer want to gain convenience by sacrificing privacy. The current model cannot meet the needs of Web 3.0 for privacy protection. Especially after the rise of DeFi, many users do not want their transactions on the chain to be monitored by others.

Privacy-enhancing technologies can solve the confidentiality and privacy protection issues of transaction information and restrict unauthorized users from obtaining transaction information. Privacy-enhancing technologies enable data to be shared, aggregated, and analyzed securely without compromising security and privacy.

d) Middleware for Web2 and Web3.0

At present, a large number of users are still concentrated on centralized platforms, and they have developed a stickiness to these platforms and formed user habits. Middleware projects can act as a bridge to help users migrate from Web2 to Web3.0. Through the development of a series of tools on the Web2 platform, users can send encrypted information and digital currency through the familiar platform, reducing the threshold for users to use Web3.0 projects.

Career Opportunities for Web 3.0

1. Network maintainer

Whether in the POW or POS era, network operation and maintenance will be carried out through more distributed devices/nodes. Regarding network maintainers, Bitcoin miners, Ethereum miners, and Filecoin miners are the most well-known. Network maintainers shoulder the heavy responsibility of maintaining infrastructure security and fairness, and will play a role in the next-generation Internet, Internet of Things, edge computing, and 5G.

2. Developers

After the project in hand is gradually improved, non-core developers have the opportunity to move on to the development of the next project. There are not a few people who hold multiple jobs. For example, the development teams of projects such as Realms and Crypts and Caverns in the Loot ecosystem overlap.

3. Moderator

Community administrator Moderator, or MOD for short, is an indispensable profession in Web3.0. NFT, Gamefi, Defi, and DAO projects all require relevant personnel to manage the community. MOD is usually served by the most active community members, but it does not rule out the case where the project party recruits through outsourcing. MOD has become the most competitive profession in the industry due to the opportunity to participate in the profit sharing of the early team.

4. Artists

Since the development of NFT, hundreds of artists and studios such as Beeples, Yuga Labs, Fang Lijun, etc. have released NFT works. Among them, NFTs released by top artists and celebrities are very popular. NFTs skip the middlemen such as traditional galleries and auction houses to provide artists with a new way to realize cash.

5. Metaverse Architect

Since the development of virtual world projects like Sandbox, Decentraland, and Crypto Voxel, there has been a growing demand for companies in the real world to build virtual headquarters. Metaverse architects have also become a cutting-edge profession.

six. game designer

Virtual world projects like Sandbox, Decentraland, and Crypto Voxel are essentially UGC platforms. Game designers can not only create their own NFTs on the platform, but also participate in the design of maps, levels and battle modes in games on the platform, and have their own voxel games.

seven. game player

In some chain game industries, gold diggers and guilds have become a very important part of the ecology. Due to the different classifications of chain games, some are more expensive, and some are more game-oriented, so their game player groups are also very different. Axie Infinity players need to buy more expensive game assets to make gold, so the guild pays the players to contribute to the early P2E mode. In Sandbox and Skyweaver, only smooth and experienced players can get gold rewards.

 Eight. Defi/Cefi miners

Defi/Cefi miners refer to groups that flexibly allocate funds to Defi protocols/centralized exchanges to earn revenue. They often have insight into the Defi product model and security, and can immediately discover the new protocol with the highest profitability, commonly known as head mining. The behavior of Defi/Cefi miners has gone far beyond the nature of personal investment, and requires systematic research and a keen sense of the industry.

To sum up the above, talents with professional skills, language proficiency, active thinking and full creativity will have more competitive advantages in Web3.0. From the perspective of entrepreneurship, excellent talents need to get rid of the traditional web2.0 thinking logic to develop new products, have the appeal to get the support of most people, and integrate resources to expand ecological construction.

What are the opportunities for web3.0?

While centralized platforms bring convenience to people, there are also many problems. Today, the momentum of Web 3.0 has attracted the attention of many giant companies, including Twitter and Reddit, some companies are exploring the idea of ​​integrating Web 3.0 into their platforms. They explore and research from creator incentive economies, improvements to centralized identities, and ownership of data and content to shape the future of decentralized platforms.

In the future, Web 3.0 will bring users a different experience, which will fundamentally change the relationship and interaction mode between users and the Internet.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-are-the-opportunities-for-web3-0/
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